Question

If Molly has an amortization table for her payments, how much total interest will Molly pay using this plan?

a) Insufficient information
b) Depends on the interest rate
c) Equal to the principal amount
d) Varies with each payment

Answer 1

The total interest Molly will pay depends on the interest rate.

Step-by-step explanation:

The total interest Molly will pay depends on the interest rate.

If Molly has an amortization table for her payments, it means she has a loan or mortgage where the payments are spread out over time.The interest rate determines how much interest Molly will pay over the life of the loan. If the interest rate is high, Molly will pay more in interest. If the interest rate is low, Molly will pay less in interest.